Clearline Capital LP Trims Stock Position in Talkspace, Inc. (NASDAQ:TALK)

Clearline Capital LP reduced its position in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 73.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 325,720 shares of the company's stock after selling 923,036 shares during the quarter. Clearline Capital LP owned about 0.19% of Talkspace worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its position in Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company's stock valued at $368,000 after acquiring an additional 134,313 shares during the last quarter. JPMorgan Chase & Co. grew its position in Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock worth $1,101,000 after purchasing an additional 430,861 shares during the period. Sugar Maple Asset Management LLC raised its position in Talkspace by 75.0% during the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company's stock valued at $87,000 after acquiring an additional 12,000 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company's stock valued at $245,000 after purchasing an additional 32,080 shares in the last quarter. Finally, Evernest Financial Advisors LLC acquired a new position in shares of Talkspace in the fourth quarter worth about $337,000. 57.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TALK shares. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research note on Tuesday, May 6th. Canaccord Genuity Group assumed coverage on Talkspace in a research note on Thursday, April 3rd. They issued a "buy" rating and a $5.00 target price for the company. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4.50.

Insider Buying and Selling at Talkspace

In other news, CEO Jon R. Cohen acquired 75,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $2.86 per share, with a total value of $214,500.00. Following the transaction, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 82,270 shares of company stock valued at $235,312 in the last quarter. Corporate insiders own 21.70% of the company's stock.

Talkspace Price Performance

Shares of NASDAQ:TALK traded down $0.02 during mid-day trading on Friday, reaching $3.02. 972,117 shares of the company were exchanged, compared to its average volume of 1,851,895. The firm's 50-day simple moving average is $2.84 and its 200 day simple moving average is $3.11. Talkspace, Inc. has a 1 year low of $1.60 and a 1 year high of $4.36. The firm has a market cap of $508.68 million, a price-to-earnings ratio of 302.30 and a beta of 1.13.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The business had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. On average, research analysts forecast that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.